The global cross-laminated timber (CLT) market to reach $2.3 billion by 2027

Posted on September 30, 2022   |  

• In 2027, the market is likely to reach 3,237.61 thousand cubic meters from 1,411.55 thousand cubic meters in 2019, growing at a CAGR of 11.23% as the growing demand for CLT producers in green homes is boosting the market growth.
• The low costs of CLT due to increasing suppliers and shorter total project development time positively impact the industry.
• The shift from concrete-based to wood-based development and the government's initiatives to reduce pollution from construction activities around the globe are impacting the market.
• The volume for construction output will see an increase of 85% to over $15.5 trillion globally by 2030, of which China, the US, and India account for over 57% of this growth.

Image: USDA